of the Public Debt

HEARINGS

BEFORE THE

SUBCOMMITTEE ON

GENERAL CREDIT CONTROL AND DEBT

MANAGEMENT

OF THE

JOINT COMMITTEE ON THE ECONOMIC REPORT.
CONGRESS OF THE UNITED STATES
EIGHTY-SECOND CONGRESS

SECOND SESSION

PURSUANT TO

Section 5 (A) of Public Law 304

(79th Congress)

97308

MARCH 10, 11, 12, 13, 14, 17, 18, 19, 20, 21, 24, 25, 26, 27,
28, AND 31, 1952

Printed for the use of the Joint Committee on the Economic Report

HG181
• A412

1952

JOINT COMMITTEE ON THE ECONOMIC REPORT
(Created pursuant to sec. 5 (a) of Public Law 304, 79th Cong.)

JOSEPH C. O'MAHONEY, Wyoming, Chairman
EDWARD J. HART, New Jersey, Vice Chairman

Statement of:

Page

Appleby, Paul, dean of the Maxwell School of Citizenship and Public
Affairs of Syracuse University-

573

Bell, James Washington, chairman, Department of Economics,
Northwestern University (submitted)

911

Blough, Roy, member, Council of Economic Advisers_.

248

Brown, Edward Eagle, chairman, board of directors of the First

National Bank of Chicago---

565

Bryan, Malcolm, president, Federal Reserve Bank of Atlanta-

Cook, H. Earl, member Board of Directors, Federal Deposit Insurance

Corporation, accompanied by E. H. Cramer and L. L. Robertson,

of the Federal Deposit Insurance Corporation---

Cumberland, W. W., Ladenburg, Thalmann & Co., New York City

(submitted).

407

868

Economists' National Committee on Monetary Policy, New York, a
submitted statement by 63 members..

922

940

Fennelly, John F., Investment Bankers Association of America, ac-

companied by Robert Craft, vice president, Guaranty Trust Co.

of New York___.

344

Folsom, Marion B., Chairman, Board of Trustees, Committee for Eco-
nomic Development----

291

Harris, Seymour E., professor of economics, Harvard University--- 355, 380

Hemingway, W. L., American Bankers Association_

324

Kemmerer, Donald L., professor of American economic history,
University of Illinois (submitted).

926

143,

Keyserling, Leon H., chairman, Council of Economic Advisers_

154, 185, 269

Lanston, Aubrey G., president, accompanied by Leroy M. Piser, vice

president in charge of research, Aubrey G. Lanston & Co., Inc----

Martin, William McC., Jr., Chairman, Board of Governors of the

Federal Reserve System___

Pollock, Dr. James K., professor of political science and chairman of
the department of political science, University of Michigan_-
Powell, Oliver S., Chairman, National Committee, Voluntary Credit
Restraint Program, and member of the Board of Governors, of the
Federal Reserve System, accompanied by George B. Vest, Robert C.
Masters, Charles H. Schmidt, and Harold L. Cheadle__.
Preston, Howard H., professor of money and banking, University of
Washington (submitted).

389

73,99

584

463

928

Robinson, Leland Rex, professor of political economy, New York Uni-
versity (submitted).

932

Ruml, Beardsley---

552

Shanks, Carrol M., president of Prudential Insurance Co. of America,

and chairman, committee on inflation control of the American Life

Convention and the Life Insurance Association of America____

Snyder, John W., Secretary of the Treasury, accompanied by mem-
bers of the Treasury staff____.

442

7, 45

Sonne, H. Christian, chairman, board of trustees, National Planning

Association_.

843

Spahr, Walter E., professor of economics, New York University (sub-

mitted)

935

Sproul, Allan, president, Federal Reserve Bank of New York__
Thomson, J. Cameron, chairman, Committee on Monetary, Fiscal and
Debt Policy, Committee for Economic Development_--

Trant, James B., dean, College of Commerce, and professor of money

and banking, Louisiana State University (submitted) -

Wiggins, A. L. M., chairman, board of directors, Atlantic Coast Line
Railroad Co., and associated railroad companies_---

506

296

939

219, 235